13,496 Shares in Truist Financial Corporation $TFC Bought by NBT Bank N.A.

NBT Bank N.A. bought a new stake in Truist Financial Corporation (NYSE:TFC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,496 shares of the insurance provider’s stock, valued at approximately $625,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TFC. Root Financial Partners LLC bought a new stake in shares of Truist Financial during the 3rd quarter worth $137,000. Woodward Diversified Capital LLC boosted its holdings in shares of Truist Financial by 7.4% in the 3rd quarter. Woodward Diversified Capital LLC now owns 4,388 shares of the insurance provider’s stock worth $203,000 after buying an additional 303 shares during the last quarter. Cardinal Capital Management boosted its holdings in shares of Truist Financial by 5.0% in the 3rd quarter. Cardinal Capital Management now owns 218,082 shares of the insurance provider’s stock worth $10,097,000 after buying an additional 10,350 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in Truist Financial by 1.3% during the third quarter. Foster Victor Wealth Advisors LLC now owns 59,550 shares of the insurance provider’s stock valued at $2,758,000 after buying an additional 788 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in Truist Financial by 2.0% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 399,655 shares of the insurance provider’s stock valued at $18,504,000 after buying an additional 7,924 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $48.50 on Friday. The stock has a market capitalization of $59.24 billion, a P/E ratio of 12.50, a PEG ratio of 1.08 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $48.68 and its 200 day moving average is $49.66. Truist Financial Corporation has a 12 month low of $43.13 and a 12 month high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.66 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio is currently 53.61%.

Analysts Set New Price Targets

TFC has been the subject of a number of research analyst reports. HSBC assumed coverage on shares of Truist Financial in a report on Monday, September 28th. They set a “buy” rating and a $61.00 price objective for the company. Citigroup dropped their target price on shares of Truist Financial from $54.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America reissued a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lowered their target price on Truist Financial from $54.00 to $50.50 and set an “underweight” rating on the stock in a research note on Friday, October 2nd. Finally, Evercore reaffirmed an “outperform” rating and set a $57.00 price target on shares of Truist Financial in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.87.

Insider Buying and Selling at Truist Financial

In other news, insider Dontá Wilson sold 13,280 shares of Truist Financial stock in a transaction on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the transaction, the insider directly owned 56,009 shares in the company, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael P. Lyons purchased 21,000 shares of Truist Financial stock in a transaction dated Thursday, September 17th. The stock was bought at an average price of $48.36 per share, with a total value of $1,015,560.00. Following the completion of the transaction, the chief executive officer owned 21,000 shares of the company’s stock, valued at $1,015,560. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.15% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.